AUSTIN, TEXAS (May 21, 2014)—Austin-based multi family developer Oden Hughes LLC has sold its 293-unit Landmark Double Creek community in South Austin to Brass Enterprises, a private real estate investment company based in Toronto.
The sales price was not disclosed.
Completed in June 2013, Landmark Double Creek is conveniently located near I-35 and just minutes from the popular Southpark Meadows shopping center. A second phase with 276 units will commence in 2014.
The project was the third launched by Oden Hughes, which was founded by real estate veterans Steve Oden and Craig Hughes in 2010.
“Given the strength of the multi family market and overall economy in Austin, Class A communities like Double Creek are very attractive to investors,” Oden said.
Pat Jones of ARA Austin represented Oden Hughes in the transaction.
“Landmark Double Creek was sought after by institutional and private investors seeking a core investment opportunity,” said Jones. “Investors were drawn to the outstanding growth prospects of the I-35 corridor, the property’s proximity to Austin’s central business district, and the luxury product finishes.”
Oden Hughes recently started its tenth Class A multi family project in Texas and currently has three of its own communities under construction in Austin and Houston. Oden Hughes Construction is also building two multi family projects as the general contractor for other developers.
About Oden Hughes LLC
Oden Hughes LLC is an Austin-based multifamily development and construction company that specializes in providing exceptional communities at competitive prices. The firm’s primary focus is the development of Class A properties in the Austin, San Antonio, Dallas, Fort Worth and Houston markets. The company also offers value-add investments, design-build services, and general contracting. Founded in 2010, the firm has developed and redeveloped more than 3,000 units in Texas. For more information please visit odenhughesllc.com.